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one is deficit reduction, one is tax cuts. if tax cuts get in the way, we'll do deficit reduction. gwen: there's another number. $716 million to deal with medicare but it's coming from different places and going to different places and therefore they find -- kind of ended up in a draw. >> for the president's health care plan, in order to fund it they assumed savings over 10 years of $716 billion for medicare. mitt romney called that a cut in medicare as if it was a cut in beneficiaries. it's meant to come from providers. however, what romney was saying is that if you take that much from providers, some of them are going to stop taking medicare parents. the trick for him is that paul ryan, his running mate, also assumed the same $716 billion. gwen: and i believe romney's answer to that was i'm the candidate. >> i'm the boss. we're going to put that money back into medicare. gwen: going into these debates we were all probably guilty of setting the expectations bar and it was pretty high for president obama. i think the polls before showed him like 51% thought he was going to win. 29%
one is deficit reduction, one is tax cuts. if tax cuts get in the way, we'll do deficit reduction. gwen: there's another number. $716 million to deal with medicare but it's coming from different places and going to different places and therefore they find -- kind of ended up in a draw. >> for the president's health care plan, in order to fund it they assumed savings over 10 years of $716 billion for medicare. mitt romney called that a cut in medicare as if it was a cut in beneficiaries....
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that's the big driver of our deficits right now. my grandmother, some of you know, helped to raise me, and my grandparent did. my grandfather died a while back. my grandmother died three days before i was elected president. she was fiercely independent. only with a high school education, started as a secretary and ended up being vice president of a local bank. she ended up living alone by choice, and the reason she could be independent was because of social security and medicare. she had worked all her life, put in this money, and understood that there was a basic guarantee under which she could not go. that's the perspective i bring when i talk about what's called entitlements. the name implies some sort of dependency on the part of folk. these are folks that have worked hard, like my grandmother and millions are counting on this. my approach is to say how do we strengthen the system over the long term? in medicare, what we did, we said we are going to have to bring down the costs if we are going to deal with long-term deficits. to
that's the big driver of our deficits right now. my grandmother, some of you know, helped to raise me, and my grandparent did. my grandfather died a while back. my grandmother died three days before i was elected president. she was fiercely independent. only with a high school education, started as a secretary and ended up being vice president of a local bank. she ended up living alone by choice, and the reason she could be independent was because of social security and medicare. she had worked...
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Oct 10, 2012
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if you look a that looming debt and deficit, as far as the eye can see, i think we a realize that in negotiated settlement is going to have to be reached. we have a spending problem in washington. we are cutting as much an even more bad, but at some point i think we are going to realize that the revenues areoing to need to us match the -- to come up a bid to match -- neil: some revenues and taxes in that equation. >> of eliminating some of the loopholes and special interests were government is forging the behaor and punishing bad behavior, is that we want to do? no. i think we can simplify and make it fair. by that we would give greater revenues. >> it sounds like it does commission point of view. enough of us know we have to pony up and get over ourselves and so the bg problems. neil: whenever you do or a la-duck session does, we won't be here deember 301st. >> is heavilyope not. i think that leads -- we already have uncertainty. this brings more. lack of faith. possible downgrade. i don't hink we consummate that and i don't think we should. we at least but to next year and figure o
if you look a that looming debt and deficit, as far as the eye can see, i think we a realize that in negotiated settlement is going to have to be reached. we have a spending problem in washington. we are cutting as much an even more bad, but at some point i think we are going to realize that the revenues areoing to need to us match the -- to come up a bid to match -- neil: some revenues and taxes in that equation. >> of eliminating some of the loopholes and special interests were...
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Oct 6, 2012
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you said you would cut the deficit in half. we still have trillion dollar deficits. >> five weeks before the election, he says his big bold idea is, never mind. >> if there is any good news for the president after the debate is that the unemployment rate dropped below 8% from 8.1%, to 7.8%, the lowest since he took office. jonathan martin was on the ground for the debate in denver. you say romney took the debate stage with the top republican verging on panic. did this turnaround for them? >> they are backing away from the edge. there is no question that this was a make or break moment for governor romney. if he had not shown up like he did in denver, you would have seen a really ugly scene here. a lot of folks in his party would have backed away from him. this puts him back in the game, it restores confidence among other people running for the house and senate this year who are now happy to be seen with him. it gives them a real boost when they desperately need it. he still has problems and a lot of swing states. this puts them
you said you would cut the deficit in half. we still have trillion dollar deficits. >> five weeks before the election, he says his big bold idea is, never mind. >> if there is any good news for the president after the debate is that the unemployment rate dropped below 8% from 8.1%, to 7.8%, the lowest since he took office. jonathan martin was on the ground for the debate in denver. you say romney took the debate stage with the top republican verging on panic. did this turnaround for...
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Oct 8, 2012
10/12
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he proposes tax deductions in real-estate to reduce the deficits. what this means is, over time, $45 billion over the next decade. >> we are running short on time. the dough and paul debate. >> this is a deadly earnest. how they can justify raising taxes on the middle-class, who have been buried the last four years. how, in lord's name, can they justify raising their taxes? >> vice-president biden just today said that the middle-class over the last of we were years has been ". ." we agree. that means we need to stop digging by electing mitt romney the next president of the united states. >> what did you think, jonathan? >> you talk to a lot of folks in the romney campaign and they say joe biden is the gift that keeps on giving. you saw him pause when he said four years. i think he meant to say the last 10 years, and it came out wrong. this is fodder for the obama campaign. it will not change, i do not think, in a huge way, the course of events, but there is no question the obama campaign folks, every time biden is out there, they are nervous about w
he proposes tax deductions in real-estate to reduce the deficits. what this means is, over time, $45 billion over the next decade. >> we are running short on time. the dough and paul debate. >> this is a deadly earnest. how they can justify raising taxes on the middle-class, who have been buried the last four years. how, in lord's name, can they justify raising their taxes? >> vice-president biden just today said that the middle-class over the last of we were years has been...
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is surplus into a huge deficit. in n. paying deficit down you should score the fact we are coming out of iraq and afghanistan. the other thing that the president has proposed and that he he understands is we cannot cut our way to prosperity. we need a balanced approach and growing our economy by doing things leak the senator opposed like restructuring the auto industry in order to put people back to work and make manufacturing jobs grow is one of the actions we need to take in order to do that. the fact of the matter is the president because he has the responsibility of office has been specific about what he proposes and mitt romney tells us to trust him. his plan is hiding behind door number three with carroll merrill and his undisclosed tax returns. >> chris: i'm glad you practiced the line. >> the lines are great. his budget tax increase on job creators. budget gimmicks brings us to $25 trillion in debt over ten years. this president has added more are debt than any other president -- >> not true. >> he said he w
is surplus into a huge deficit. in n. paying deficit down you should score the fact we are coming out of iraq and afghanistan. the other thing that the president has proposed and that he he understands is we cannot cut our way to prosperity. we need a balanced approach and growing our economy by doing things leak the senator opposed like restructuring the auto industry in order to put people back to work and make manufacturing jobs grow is one of the actions we need to take in order to do that....
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lawmakers must also lay the groundwork on a basic plan to reduce the federal deficit. the group will begin work on the plan following november's election and have until january to agree on a deal. senators could face some road blocks along the way. senate democrats say they do not agree with extending bush-era tax cuts, while republicans oppose raising tax rates. a shocking stat is out about millionaires getting paid unemployment. according to the congressional research service, nearly 2400 millionaires were paid unemployment in 2009. add to that another 954,000 households earning more than $100,000 also taking home unemployment benefits. the numbers include people who were hired for higher-paying jobs after receiving the government money. in 2011, the senate voted unanimously to end unemployment payments to jobless millionaires. however, it was attached to another bill which is yet to pass in the senate. a bailout for spain is "not imminent." that's according to the country's prime minister, who told reporters yesterday that plans to request a bailout are not set in s
lawmakers must also lay the groundwork on a basic plan to reduce the federal deficit. the group will begin work on the plan following november's election and have until january to agree on a deal. senators could face some road blocks along the way. senate democrats say they do not agree with extending bush-era tax cuts, while republicans oppose raising tax rates. a shocking stat is out about millionaires getting paid unemployment. according to the congressional research service, nearly 2400...
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and the deficit gets with bigger and the deficit gets bigger. >> raise taxes and-- >> we've got, okay, adam. can you break this? what do you think? which side are you on here, a fiscal cliff, how do we address this, higher taxes, lower taxes? >> we won't have a sequester for more than a few days. i can see it happening, but it won't last very long. what we have to have higher taxes. >> no, come on. >> and we know that, we will. >> all right i tell you what-- >> you know what, we'll have double dip recession. >> we may be going there anyway. >> all right, i tell what you, guys, we may, to adam's point have it for a couple of days, but tell you charlie the only reason we will have it for a couple of days the markets would react if this things started. >> i agree. why would the markets react if you're going to do something-- >> got you there. >> and the same way it reacted last year when we talked about double dip recession. >> that was a default. >> and cut spending, charlie, the economy-- >> and everyone made great points, by the way, neil is not waiting around for lawmakers for this f
and the deficit gets with bigger and the deficit gets bigger. >> raise taxes and-- >> we've got, okay, adam. can you break this? what do you think? which side are you on here, a fiscal cliff, how do we address this, higher taxes, lower taxes? >> we won't have a sequester for more than a few days. i can see it happening, but it won't last very long. what we have to have higher taxes. >> no, come on. >> and we know that, we will. >> all right i tell you what--...
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enough deductions and loopholes that only affect high income individuals to avoid either raising the deficit or burdening the middle class. it's math, it's arithmetic. >> get the rates down, lower deductions and exemptions to create more jobs because there's nothing better for getting us to a balanced budget to have more people working, earning more money and paying taxes and that's by far the most effective and efficient way to get this budget balanced. >> paul: welcome to the journal editorial report. i'm paul gigot. a big night in denver on wednesday, as president barack obama, and mitt romney met for the first presidential debate and the candidates sparred as you heard over taxes and the deficit as well as health care. wall street reform and the role of government. with mitt romney taking some sharp shots at the president's record these past four years. >> we're seeing right now is, in my view, a trickle down government approach which has government thinking it can do a better job than free people pursuing their dreams and that's not working the. proof of that is 23 million people out of
enough deductions and loopholes that only affect high income individuals to avoid either raising the deficit or burdening the middle class. it's math, it's arithmetic. >> get the rates down, lower deductions and exemptions to create more jobs because there's nothing better for getting us to a balanced budget to have more people working, earning more money and paying taxes and that's by far the most effective and efficient way to get this budget balanced. >> paul: welcome to the...
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the deficit was front and center. react to this. >> the president said he would cut the deficit in half. unfortunately, he doubled it. $1 trillion deficits for the last fur -- four years. the president put almost as much debt held by the public as all prior presidents combined. >>neil: what he was saying, whatever you inherited you did that and then some. did that register? >>guest: again, it is like delivering a spanking in the boardroom, point one, point two, point three, you said this was the budget. you didn't do it. you said this is the revenue, you didn't do it. the promised the people this, you didn't do it. i can. it made a compelling point not just to people that are loyal to mitt romney but also people that are undecided. i believe, also, the conviction, you could see it, that president obama literally started submitting through the debit to the points. >>neil: it is interesting. very interesting dissertation to wrap your arms around what was an economic tutoring. very weird. forget about getting the undecid
the deficit was front and center. react to this. >> the president said he would cut the deficit in half. unfortunately, he doubled it. $1 trillion deficits for the last fur -- four years. the president put almost as much debt held by the public as all prior presidents combined. >>neil: what he was saying, whatever you inherited you did that and then some. did that register? >>guest: again, it is like delivering a spanking in the boardroom, point one, point two, point three,...
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any path forward on tax reform that promises to cut rates will either end up failing to reduce the deficit, or failing to protect the middle class from a net tax increase. >> eliot: senator schumer suggested allowing the rates to return to the prebush rate. of course republicans were quick to pounce on shumers new approach be old attacks. mitch mcconnell said, and i quote . . . for more on the mayhem in washington i'm joined by one of your favorites bernie sanders,ent senator of vermont. thank you so much for joining us tonight. >> my pleasure. >> eliot: is chuck schumer right that we could challenge the premise that rates at the top should come down. >> of course schumer is right. what the republicans want to do and some democrats is lower the tax rates for the wealthiest people in this country at a time right now, when the effect of what the wealthiest people actually pay is the lowest in decades. and even if you manage to close some loopholes you will become neutral -- you are not going to bring in any more revenue to help us deal with the deficit. shumer is right in saying we have to k
any path forward on tax reform that promises to cut rates will either end up failing to reduce the deficit, or failing to protect the middle class from a net tax increase. >> eliot: senator schumer suggested allowing the rates to return to the prebush rate. of course republicans were quick to pounce on shumers new approach be old attacks. mitch mcconnell said, and i quote . . . for more on the mayhem in washington i'm joined by one of your favorites bernie sanders,ent senator of vermont....
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the deficit number? >> probably the deficit. i think if you are the president's campaign you're less worried about romney's numbers right now. on the one hand the 40% right direction is the highest it has been in 3 1/2 years and any incumbent heading in that is momentum. 53% say the country is headed in the wrong track. i think this for the president is not about mitt romney. those advantages, chuck, on china, foreign policy and the deficit aren't as strong as for usual republicans. and the final point i would make is i think the important thing for this election is that braump has a 52 positive, 42 negative image. mitt romney has a negative image. only two have had a net negative image at this point and one of them loss, george h.w. bush and romney needs to improve that dynamic. >> democratic pollster. thank you very much to both of you. we have to get back in the field. let's keep poling. just two days away from friday's jobs report. we will get a quick preview on wall street on the market run down. and then we are taking a tr
the deficit number? >> probably the deficit. i think if you are the president's campaign you're less worried about romney's numbers right now. on the one hand the 40% right direction is the highest it has been in 3 1/2 years and any incumbent heading in that is momentum. 53% say the country is headed in the wrong track. i think this for the president is not about mitt romney. those advantages, chuck, on china, foreign policy and the deficit aren't as strong as for usual republicans. and...
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no tax cut that adds to the deficit. but i do want to reduce the burden being paid by middle income americans, and to do that, that also means i cannot reduce the burden paid by high-income americans. any language to the contrary is simply not accurate. >> mr. president. >> obama: let's talk about taxes, because i think it's instructive. now four years ago when i stood on this stage, i said that i would cut taxes for middle class families, and that's exactly what i did. we cut taxes for middle class families by about $3,600 and the reason is because i believe that we do best when the middle class is doing well and by giving them those tax cuts they had a little more money in their pocket, so maybe they can buy a new car, they are certainly in a better position to weather the extraordinary recession we were in to. they are spending more money. businesses have more customers, make more profits, and hire more workers. now governor romney's proposal calls for a $5 trillion tax cut on top of $2 trillion of additional spending
no tax cut that adds to the deficit. but i do want to reduce the burden being paid by middle income americans, and to do that, that also means i cannot reduce the burden paid by high-income americans. any language to the contrary is simply not accurate. >> mr. president. >> obama: let's talk about taxes, because i think it's instructive. now four years ago when i stood on this stage, i said that i would cut taxes for middle class families, and that's exactly what i did. we cut taxes...
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me has to sock it to the middle class or explode the deficit. > deficit. >> reporter: what you're saying it it is unrealistic-- >> i'm saying it's impossible, not unrealistic. >> when president obama said in 2008 i'm going to cut the deficit in half, i'm going to close guilt me, people-- gitmo, people said-- did not sigh he was not telling the truth. >> closing gitmo involved congress and he couldn't get them to do that. the math, people over $200,000, and you still have a trillions of dollars hole, and he hasn't named the deductions he would close. this is a shell game, john. whichever shell you pick up, the middle class loses. the economy will lose, and i think that this is going to catch up with him. >> schieffer: what did the president think of his performance? >> i think the president understands-- you know, the president is his harshest critic, and without getting into detail, i think you can assume he has reviewed the tape and it will inform how he handles these subsequent debates. >> schieffer: do you think he was ill prepared. some are saying it was the people who prepared him.
me has to sock it to the middle class or explode the deficit. > deficit. >> reporter: what you're saying it it is unrealistic-- >> i'm saying it's impossible, not unrealistic. >> when president obama said in 2008 i'm going to cut the deficit in half, i'm going to close guilt me, people-- gitmo, people said-- did not sigh he was not telling the truth. >> closing gitmo involved congress and he couldn't get them to do that. the math, people over $200,000, and you still...
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Oct 5, 2012
10/12
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focused on energy and education on the right way to fix the deficit. romney's approach is the wrong approach on taxes on deficit on wall street reform, on medicare and healthcare. >> eliot: on "good morning america," comedian jon stewart said he tried the same strategy in an upcoming debate with bile o'reilly. >> strategy that obama took, it is the rope-a-dope but instead of letting your opponent punch himself out you just get beat up. >> eliot: ouch. piling insult on top of self-inflicted injury, john sununu told msnbc's andrea mitchell -- >> what people saw last night i think, was a president that revealed his incompetence, how lazy and detached he is. >> did you really mean to call barack obama the president of the united states lazy? >> he didn't want to prepare for this debate. he's lazy and disengaged. >> eliot: wow. asked if sununu's comments had overtones, it seems that way. obama's senior adviser david axelrod thinks romney's say what works strategy will ultimately work against him. >> eliot: which had better mean the next debate unless the pr
focused on energy and education on the right way to fix the deficit. romney's approach is the wrong approach on taxes on deficit on wall street reform, on medicare and healthcare. >> eliot: on "good morning america," comedian jon stewart said he tried the same strategy in an upcoming debate with bile o'reilly. >> strategy that obama took, it is the rope-a-dope but instead of letting your opponent punch himself out you just get beat up. >> eliot: ouch. piling insult...
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we asked, who would better hanel the nation's deficit, 57% said romney. 41% said president obama. we asked, who agrees with your views about government? that was the question we asked. 54% said governor romney. 44% said president obama. anderson, looks like a clean sweep on all those respective questions for governor romney over president obama. >> wolf, are you clear who these voters are? republicans democrats? >> registered voters, republicans, democrats, undecided. people called, scientific survey. we wanted to make sure they watched the debate. not all registered voters, not all likely voters, these are registered voters who watched the debate. >> you are getting the sample you get. you call after the debate. our sample of debate watchers, a sample of people watching the debate. registered voters. a few point more republicans than a typical sample of all americans. a few points, not a large lead. a few points more republican, so some people say, a-ha, 67/25. romney still trounces on about every characteristic. it shows debate watchers give romney a convincing victory. we need
we asked, who would better hanel the nation's deficit, 57% said romney. 41% said president obama. we asked, who agrees with your views about government? that was the question we asked. 54% said governor romney. 44% said president obama. anderson, looks like a clean sweep on all those respective questions for governor romney over president obama. >> wolf, are you clear who these voters are? republicans democrats? >> registered voters, republicans, democrats, undecided. people called,...
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possible to come up with enough deductions only affect high income individuals to avoid either raising deficit or burdening the middle class. does anyone out there think that the big problem we had is that there is too much oversight and regulation of wall street? because if you do, then... governor romney is your candidate. >> don't forget, you put $90 billion, like 50 years worth of breaks into solar and wind. to sole lynn dra and fiskar and tesla. i had a friend that said you don't just pick binners and losers, pick the losers. and carl rove joins us. let's go to the issue of undecided. jump in there. those at least watching. >> well, we're likely to see a bump out of this. not much of a bump but a little bit of a bump. first debate is most important of the debates and this typically the winner that gets a point two points out of the debate. there is a close race like this, that matters but to step back just a moment. what matters is that there is to a lesser extent there is the vice presidential debate. soits not over tonight but there is a strong start for mitt romney. and this is an asto
possible to come up with enough deductions only affect high income individuals to avoid either raising deficit or burdening the middle class. does anyone out there think that the big problem we had is that there is too much oversight and regulation of wall street? because if you do, then... governor romney is your candidate. >> don't forget, you put $90 billion, like 50 years worth of breaks into solar and wind. to sole lynn dra and fiskar and tesla. i had a friend that said you don't...
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>>guest: he is hailed as a deficit hawk but his own budget doesn't balance until 2040. the olson tws wll b 5 b eme is balanced. >> if you taking youroney, who do you give it to? joe biden and president obama or ryan and ey? ep bon t opant specifics? >>guest: what they --. >>shepard: you are saying you ll not mess with the deficit but you are not adding more tax money. if you don't add more money, how does it wor tabo.eaire >> stimulating the economy, the president has not laid out his plan and they are saying, why doesn't governor romney lay out hisplan. he has done it over and ovend h tedutcug rd >> i would rr ben t side of momentum. >> if you are driving across the country and you say you will do it in 15 years can you not do that unless you speed. that is what mitt romney is sayi >>shd:y saey ll tutit h ld. stands to reason that the american people would go, you should tell us how but they are not going to. >>guest: i think we will hear it from the vice predent. wdov il >>shepard: all right guys, john, john, everyone is john today. we will be in kentucky tomorrow. i
>>guest: he is hailed as a deficit hawk but his own budget doesn't balance until 2040. the olson tws wll b 5 b eme is balanced. >> if you taking youroney, who do you give it to? joe biden and president obama or ryan and ey? ep bon t opant specifics? >>guest: what they --. >>shepard: you are saying you ll not mess with the deficit but you are not adding more tax money. if you don't add more money, how does it wor tabo.eaire >> stimulating the economy, the president...
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no taxes to deal with the deficit. is that the right thing? >> keep in mind, he made it very clear that unlike this president, who i have to like as a person. i know him well. unlike president obama, he wants to work with congress. he knows he's not going to get anything done if he doesn't work with congress. >> but he drew a line there. is that a fuzzy line? >> i'm with it on the line. one thing that has to be made very clear is the wealthy will be paying just as much as they're paying now. >> but they shouldn't pay more. >> i thought one of the best lines is that basically we're tired of trickle down government. and he turned the tables on the president. we have the president who believes it will government is the last answer to everything. do you think that is going to be a political liability in the state of florida? >> well, keep in mind, he brought up pretty forcefully that the president cut medicare. he also said that look, we are going to keep medicare exactly as it is for those 55 years or older. but we have to do something to help th
no taxes to deal with the deficit. is that the right thing? >> keep in mind, he made it very clear that unlike this president, who i have to like as a person. i know him well. unlike president obama, he wants to work with congress. he knows he's not going to get anything done if he doesn't work with congress. >> but he drew a line there. is that a fuzzy line? >> i'm with it on the line. one thing that has to be made very clear is the wealthy will be paying just as much as...
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we are ready to have a deficit reduction bill that is big, bold and balanced. but we also understand that and in addition to spending cuts coming up to have some revenue. and i hope that moderate republicans will be empowered to negotiate that with us for the good of the country. >> when we come back in november, all of the members of congress, including some of the tea party members to vote to defeat this year, will still be your, -- will still be here. how do you navigate that if democrats are successful in november? >> again, i am not really thinking about the day after. i am focused on how do we get to a position where we win the house representatives and then we can reach out across the aisle and talk to moderate republicans and maybe even to some tea party republicans who have now learned the lesson first hand, as painful as it may be, that extremism is just not a virtue. and maybe we will be able to talk some sense into them and get back to where we were in the debt reduction talks last august. three times, we had a debt reduction deal with john boehner
we are ready to have a deficit reduction bill that is big, bold and balanced. but we also understand that and in addition to spending cuts coming up to have some revenue. and i hope that moderate republicans will be empowered to negotiate that with us for the good of the country. >> when we come back in november, all of the members of congress, including some of the tea party members to vote to defeat this year, will still be your, -- will still be here. how do you navigate that if...
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because according to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay ior it. if we can't trt t him here... how could we ever trust him here?
because according to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay ior it. if we can't trt t him here... how could we ever trust him here?
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you said you'd cut the deficit in half, it's four years later we have trillion dollar deficits. the c.b.o. says we'll have a trillion dollar deficit the next four years. if you're reelected we'll get to a trillion dollar debt. you said before you would cut the deficit in half. and i love this idea of $4 trillion in cuts. you found four trillion dollars to get closer to a balanced budget except we still show trillion dollar deficits every year. that doesn't get the job done. let me come back and say why is it that i don't want to raise taxes? why don't i want to raise taxes on people? and actually you said it. back in 2010 you said i'm going to extend the tax policies that we have now. i'm not going to raise taxes on anyone because when the economy is growing slow like this, when we're in recession, you shouldn't raise taxes on anyone. well, the economy is still growing slow. as a matter of fact, it's growing much more slowly now than when you made that statement. and so if you believe the same thing, you just don't want to raise taxes on people. and the reality is it's not just
you said you'd cut the deficit in half, it's four years later we have trillion dollar deficits. the c.b.o. says we'll have a trillion dollar deficit the next four years. if you're reelected we'll get to a trillion dollar debt. you said before you would cut the deficit in half. and i love this idea of $4 trillion in cuts. you found four trillion dollars to get closer to a balanced budget except we still show trillion dollar deficits every year. that doesn't get the job done. let me come back and...
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reduction, he claimed $4 trillion deficit reduction. he's double counting, there's a gym nick there, according to the nonpartisan committee for responsible federal budget because he talks about the savings of $1 trillion from winding down the wars in iraq and afghanistan, which were deficit financed to begin with. both sides were fudging, and both sides are guilty of fuzzy math. but in terms of sheer performance, the president seemed to have left it in the locker room, did he not prepare well enough? >> well, listen, i don't think we viewed this as a steel cage match. our goal with last night for the president to lay out his plans to restore economic security for the middle class and there's a choice in the election between building the economy for the middle class out, making investments in education, reducing the deficit, and mitt romney's plan, the same policies that led to the economic crisis in the first place. mitt romney had a different strategy. he engaged in an act of performance art last night, something that james lipton woul
reduction, he claimed $4 trillion deficit reduction. he's double counting, there's a gym nick there, according to the nonpartisan committee for responsible federal budget because he talks about the savings of $1 trillion from winding down the wars in iraq and afghanistan, which were deficit financed to begin with. both sides were fudging, and both sides are guilty of fuzzy math. but in terms of sheer performance, the president seemed to have left it in the locker room, did he not prepare well...
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-- new deficit neutral. no cost to the deficit and cutting $5 trillion mainly for the wealthy. let's watch. >> with regards to that tax cut, look, i'm not looking to cut massive taxes and to reduce the revenues going to the government. my number one principle is there will be no tax cut that adds to the deficit. i want to underline that. no tax cut that adds to the deficit. >> paul ryan just days before the debate last week directly contradicted romney. ryan said lowering the tax rates was more important than anything else, including getting rid of those deductions to pay for them supposedly. let's watch. >> what's most important to romney, would he scale back on the 20% tax cut for the wealthy? would he scale back and say, okay, we're going to have to raise taxes for the middle class? i guess the question is what's most important to him in his tax reform plan -- >> keeping tax rates down. by lowering tax rates, people keep more of the next dollar they earn. >> that's more important -- >> that's more importa
-- new deficit neutral. no cost to the deficit and cutting $5 trillion mainly for the wealthy. let's watch. >> with regards to that tax cut, look, i'm not looking to cut massive taxes and to reduce the revenues going to the government. my number one principle is there will be no tax cut that adds to the deficit. i want to underline that. no tax cut that adds to the deficit. >> paul ryan just days before the debate last week directly contradicted romney. ryan said lowering the tax...